Nurix Therapeutics, Inc. (NASDAQ:NRIX) Receives $30.88 Average Target Price from Brokerages

Shares of Nurix Therapeutics, Inc. (NASDAQ:NRIX) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $30.88.

Several equities research analysts recently commented on the company. Needham & Company LLC decreased their target price on Nurix Therapeutics from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets assumed coverage on shares of Nurix Therapeutics in a research report on Friday, December 6th. They set an “outperform” rating and a $35.00 price objective for the company. Leerink Partners started coverage on shares of Nurix Therapeutics in a research report on Monday, March 17th. They set a “market perform” rating and a $16.00 target price on the stock. BTIG Research started coverage on shares of Nurix Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on shares of Nurix Therapeutics from $34.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, January 29th.

Nurix Therapeutics Stock Performance

NASDAQ:NRIX opened at $12.15 on Thursday. Nurix Therapeutics has a 52 week low of $11.90 and a 52 week high of $29.56. The firm’s fifty day moving average is $16.34 and its 200-day moving average is $20.37. The firm has a market cap of $922.03 million, a P/E ratio of -4.20 and a beta of 2.18.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings results on Tuesday, January 28th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Nurix Therapeutics had a negative net margin of 354.85% and a negative return on equity of 53.65%. As a group, sell-side analysts anticipate that Nurix Therapeutics will post -2.99 earnings per share for the current year.

Insiders Place Their Bets

In other Nurix Therapeutics news, insider Gwenn Hansen sold 3,690 shares of Nurix Therapeutics stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $19.85, for a total transaction of $73,246.50. Following the transaction, the insider now owns 55,937 shares of the company’s stock, valued at $1,110,349.45. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Houte Hans Van sold 5,825 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.49, for a total value of $84,404.25. Following the completion of the transaction, the chief financial officer now directly owns 33,724 shares of the company’s stock, valued at approximately $488,660.76. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,326 shares of company stock valued at $213,449 in the last three months. 7.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nurix Therapeutics

Several large investors have recently made changes to their positions in the business. US Bancorp DE grew its position in Nurix Therapeutics by 144.7% during the fourth quarter. US Bancorp DE now owns 1,424 shares of the company’s stock valued at $27,000 after buying an additional 842 shares during the period. GF Fund Management CO. LTD. purchased a new position in Nurix Therapeutics in the fourth quarter valued at about $28,000. Quarry LP grew its position in shares of Nurix Therapeutics by 3,746.2% during the 3rd quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $56,000 after acquiring an additional 2,435 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Nurix Therapeutics during the 4th quarter worth approximately $87,000. Finally, Summit Investment Advisors Inc. increased its stake in shares of Nurix Therapeutics by 13.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,345 shares of the company’s stock worth $138,000 after purchasing an additional 877 shares during the last quarter.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.